The SOP Law requires a real estate broker to provide specific guidance to prospective homebuyers regarding three questions: (1) whether prospective clients shall show identification, (2) whether an exclusive broker agreement is required, and (3) whether pre-approval for a mortgage loan is required. To be clear, a real estate broker is not required to ask for any of these three things. The real estate broker is simply required to let homebuyers know whether or not they will require any one, two or three of these items.
ReMax Frontier “Broker’s Procedures”
Please be advised that prior to showing a homebuyer a property:
(1) we require identification from a prospective homebuyer,
(2) we do not require a homebuyer to sign an exclusive brokerage agreement and
(3) we require a pre-approval for a mortgage loan in order to show a homebuyer properties.